OK, the market took out the highs (as I predicted I hasten to add).
A few random thoughts: even though the banks are getting a bid (after releasing HORRIBLE profit warnings) overall they're still the weakest part of the market.
The bias, however, is still bullish until we see signs of more distribution. I still think these markets are manipulated; there is IMO a growing disconnect between the economic numbers that signal slowdown, a currency and commodity markets that signal inflation, a Fed that understands nothing but liquidity as the answer to all ills, while all the time talking about how the core CPI (manipulated and fraudulent) signals low inflation--remember these are the same gentlemen that couldn't see the housing market crisis either, nor could they see the blatant abuses of credit derivatives that are still sending ripples worldwide-- but still for the purposes of stock trading they are the boss.
Buys: HURN, CYNO FXE CHTT JRJC (for fun...big time China bubble stock) EWZ (Brazil) QLD SSO HOLX STAR AAPL
Buy stops in place: DSX (I was hasty to sell) COGT, DIG
Sells: AEO ...bear in mind retail is still lagging
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